Thread: loans

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  1. #1
    Lucifer's Avatar
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    loans

    im about to turn 18 soon and want to upgrade my car. so i'm gonna get a car loan and buy one from craigslist. why i want one from craigslist is so i can get a car with mods already installed and don't have to waste more time and more money one getting them. yes, i do have a job, working part time, getting ~$400 every two weeks, but it's not enough. I probably could buy a car off a lot with the money i am making now, but i don't really want to do that, i'd rather pay off a loan which is probably even worse. so i'm here asking if it's a good idea to get a car loan as soon as a turn 18, not the day of, but shortly after i turn. probably a loan of $6k-$8k, nothing too big, but big enough to get something good/ better than my car now. right now i have a 2003 vw golf gls 2.0 and it's a fucking shitter. i want something with speed which is why i'm considering doing this. i only have about $1k saved up and i don't have anything to spend it on, so why not a car, with a loan of course. so yeah, is it a good idea to get a 6-8k loan shortly after i turn 18? or should i just trade in my car and save up some more money?
    sorry for the eyesore of a post.

  2. #2
    Dexter's Avatar
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    I would not recommend it, Loan is a big burden and responsibility, plus if you turn 18 and god forbit you get in a financial crisis and are unable to repay the loan, your credit history will get fucked, It's better to save for a car, then get a loan and pay back the loan.

    PS All the loans will cost you more to repay, rather than just saving up for a car and buying it.

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    Lucifer (03-24-2016),Xenocide (03-24-2016)

  4. #3
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    I only really needed to read the first sentence

    Do not take any loans unless you are absolutely sure you can pay it off within the time frame required.

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    Lucifer (03-24-2016)

  6. #4
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    ^ Nope man. It took me a while when I bought my audi a4 for 7k( I sold it) but after that I didn't had to pay my bank or anyone. I know it's hard but just save.
    Last edited by Wyo; 03-24-2016 at 04:42 PM.
     
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  8. #5
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    I seriously do not advise you to take loans, they will fuck your life unless you're able to pay it. I do not advise you to start your life with financial shit, just save money for the car and then buy it.

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